RKL Wealth Management LLC Has $26.22 Million Position in Apple Inc. (NASDAQ:AAPL)

RKL Wealth Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,526 shares of the iPhone maker’s stock after acquiring an additional 139 shares during the quarter. Apple accounts for 2.4% of RKL Wealth Management LLC’s portfolio, making the stock its 8th largest position. RKL Wealth Management LLC’s holdings in Apple were worth $26,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. GSG Advisors LLC lifted its stake in Apple by 1.3% in the 3rd quarter. GSG Advisors LLC now owns 104,157 shares of the iPhone maker’s stock valued at $23,561,000 after acquiring an additional 1,357 shares in the last quarter. Atria Investments Inc lifted its position in shares of Apple by 3.1% in the third quarter. Atria Investments Inc now owns 461,237 shares of the iPhone maker’s stock worth $107,468,000 after purchasing an additional 13,889 shares in the last quarter. Essex Savings Bank boosted its holdings in Apple by 2.8% during the third quarter. Essex Savings Bank now owns 111,818 shares of the iPhone maker’s stock worth $26,054,000 after purchasing an additional 3,031 shares during the last quarter. Kerusso Capital Management LLC grew its position in Apple by 6.5% in the third quarter. Kerusso Capital Management LLC now owns 19,748 shares of the iPhone maker’s stock valued at $4,601,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Cypress Point Wealth Management LLC increased its stake in Apple by 1.2% in the 3rd quarter. Cypress Point Wealth Management LLC now owns 10,417 shares of the iPhone maker’s stock valued at $2,427,000 after buying an additional 126 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 2.0 %

Shares of NASDAQ:AAPL opened at $237.87 on Thursday. The business’s 50 day simple moving average is $240.63 and its 200 day simple moving average is $230.52. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.58 trillion, a P/E ratio of 39.12, a P/E/G ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. On average, research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Maxim Group increased their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.